Munoz Manufacturing Company began operations on January $1.$ During the year, it started and completed $1,630$ units of product. The financial statements are prepared in accordance with GAAP. The company incurred the following costs:

Raw materials purchased and used$$$$3,190.$

Wages of production workers$$$$3,490.$

Salaries of administrative and sales personnel$$$$1,900.$

Depreciation on manufacturing equipment$$$$5,382.$

Depreciation on administrative equipment$$$$1,740.$

Munoz sold $1,200$ units of product.

Required

Determine the total product cost for the year.

Determine the total cost of the ending inventory.

Determine the total of cost of goods sold. Exam $3$ i

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Exercise $10-8$A $($Algo$)$ Allocating product costs between ending inventory and cost of goods sold LO $103$

Munoz Manufacturing Company began operations on January $1.$ During the year, it started and completed $1,630$ units of product. The

$11$

financial statements are prepared in accordance with GAAP. The company incurred the following costs:

$01$:$37$:$34$

Raw materials purchased and used$-$ $$3,190.$

Wages of production workers$-$ $$3,490.$

Salaries of administrative and sales personnel$-$ $$1,900.$

Depreciation on manufacturing equipment$-$ $$5,382.$

Depreciation on administrative equipment$-$ $$1,740.$

Munoz sold $1,200$ units of product.

Required

a$.$ Determine the total product cost for the year.

b$.$ Determine the total cost of the ending inventory. $($Do not round intermediate calculations.$)$

c$.$ Determine the total of cost of goods sold. $($Do not round intermediate calculations.$)$

$\backslash$table$[[$a$.,$Total product cost,$],[$b$.,$Total cost of ending inventory,$],[$c$.,$Total cost of goods sold,$]]$

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$(9)$

$($c$)$

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$5$:$34$ PM

$\frac{11}{13}\frac{?}{2023}$Exam $3$ i

Saved

Exercise $10-8$A $($Algo$)$ Allocating product costs between ending inventory and cost of goods sold LO $103$

Munoz Manufacturing Company began operations on January $1.$ During the year, it started and completed $1,630$ units of product. The

$11$

financial statements are prepared in accordance with GAAP. The company incurred the following costs:

points

$01$:$37$:$34$

Raw materials purchased and used$-$ $$3,190.$

Wages of production workers$-$ $$3,490.$

Salaries of administrative and sales personnel$-$ $$1,900.$

Depreciation on manufacturing equipment$-$ $$5,382.$

Depreciation on administrative equipment$-$ $$1,740.$

Munoz sold $1,200$ units of product.

Required

a$.$ Determine the total product cost for the year.

b$.$ Determine the total cost of the ending inventory. $($Do not round intermediate calculations.$)$

c$.$ Determine the total of cost of goods sold. $($Do not round intermediate calculations.$)$

$\backslash$table$[[,,],[$a$.,$Total product cost,$],[$b$.,$Total cost of ending inventory,$],[$c$.,$Total cost of goods sold,$]]$

Mc

Graw

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$9$ of $34$

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